Central Asia: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Central Asia

For the third year in a row, the Central Asian market for oil and water paints and varnishes recorded decline in sales value, which decreased by -0.6% to $X in 2021. Over the period under review, consumption showed a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Oil And Water Paints And Varnishes in Central Asia

In value terms, production of oil and water paints and varnishes reduced to $X in 2021 estimated in export price. Overall, production, however, showed perceptible growth. The growth pace was the most rapid in 2017 with an increase of 244%. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Oil And Water Paints And Varnishes

Exports in Central Asia

In 2021, approx. X tons of oil and water paints and varnishes were exported in Central Asia; jumping by 36% on the year before. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 141%. Over the period under review, the exports of reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of oil and water paints and varnishes soared to $X in 2021. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 77% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Kyrgyzstan (X tons) represented roughly 99% of total exports in 2021.

Kyrgyzstan was also the fastest-growing in terms of the oil and water paints and varnishes exports, with a CAGR of +11.2% from 2012 to 2021. From 2012 to 2021, the share of Kyrgyzstan increased by +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kyrgyzstan ($X) also remains the largest oil and water paints and varnishes supplier in Central Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Kyrgyzstan totaled +12.4%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, rising by 2.2% against the previous year. In general, the export price showed a mild increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 93% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Kyrgyzstan.

From 2012 to 2021, the rate of growth in terms of prices for Kyrgyzstan amounted to +1.0% per year.

Imports of Oil And Water Paints And Varnishes

Imports in Central Asia

In 2021, supplies from abroad of oil and water paints and varnishes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, faced a deep contraction. The growth pace was the most rapid in 2016 when imports increased by 72% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes reduced slightly to $X in 2021. Over the period under review, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 61% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan (X tons) and Turkmenistan (X tons) dominates varnishes structure, together making up 78% of total imports. It was distantly followed by Uzbekistan (X tons) and Tajikistan (X tons), together committing a 17% share of total imports. Kyrgyzstan (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +23.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest oil and water paints and varnishes importing markets in Central Asia were Turkmenistan ($X), Kazakhstan ($X) and Uzbekistan ($X), with a combined 92% share of total imports.

Uzbekistan, with a CAGR of +47.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, with a decrease of -4.6% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for oil and water paints and varnishes decreased by -11.6% against 2019 indices. The pace of growth was the most pronounced in 2019 when the import price increased by 25%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+19.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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